LIC Share Updates: There is good news for those investing in the Life Insurance Corporation of India (LIC). LIC’s stock is seeing continuous gains for two sessions. Meanwhile, LIC is going to give a big gift to its investors. Actually, LIC has declared a dividend of Rs 1.50 (15 percent) on each share with a face value of Rs 10. Not only this, the insurance company Life Insurance Corporation (LIC) has now fixed the record date of the dividend.
LIC gave information
On Tuesday, LIC shares closed at Rs 702.80 on the Bombay Stock Exchange (BSE), up 1.49 percent. Let us tell you that the 52-week high level of the shares of the insurance company is Rs 920. After this announcement of the company, there is an atmosphere of happiness among the investors. LIC has informed in the stock exchange filing that the record date for payment of dividend will be 26 August 2022. LIC shares were listed on the stock exchange in May. The first annual general meeting of the insurance company will be held on 27 September 2022.
LIC shares fall 26 percent
Significantly, the stock of LIC was declining continuously since its listing. The IPO price of LIC shares was Rs 949. But till now LIC’s shares have fallen about 26 percent from their IPO price. The 52-week low of the company’s shares is Rs 650. So far it has also caused huge losses to the investors.
Shares got a buy rating
According to the information given by LIC, the country’s largest state-run insurance company, its joint venture LIC (Nepal) Limited will invest Rs 80.67 crore in the proposed rights issue of the company. Actually, this proposal has been approved in the board meeting of the insurance company held on Monday. Meanwhile, domestic brokerage house Motilal Oswal has given a buy rating to LIC shares. According to the brokerage house, according to the current share price, the shares of the insurance company can rise by 20 percent.
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